Gas, Diesel Prices May Go Down in 2013, Government Group Forecasts

Enthusiasts everywhere have a new reason to look forward to the rest of 2013: the U.S. Energy Information Administration (EIA) has released its prediction that gas prices nationwide will fall $0.19 from 2012 to 2013. Though a lot can happen during the course of a year to alter gas, diesel, and natural gas prices, declining regular gas prices could seriously affect sales of everything from large SUVs like the Dodge Durango to subcompacts like the Toyota Yaris.

The agency also released predictions for the expected cost of a gallon of on-highway diesel fuel. While the average price in 2012 was $3.97 a gallon, the average may decline slightly to $3.87 in 2013, still making diesel a bit more expensive than gas. As for natural gas, the EIA says prices may gradually rise but remain low.

Regular gas prices, the EIA notes, have come down from an average of $3.85 a gallon in September 2012 to an average of $3.31 per gallon in December, the lowest average since December 2011. While the predicted average price for a gallon of gas in 2013 may go from 2012′s $3.63 to $3.44, the EIA suggests that prices may decline again in 2014, to $3.34.

How do you think a potential fall in the price of gas would affect auto sales in 2013?

Source: EIA via Reuters

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